Building A Brand From Scratch: Our Experience With MPL: Sai Srinivas, Co-founder & CEO, MPL

Summary

In this insightful summit discussion, Sai Srinivas, Co-founder and CEO of Mobile Premier League (MPL), shares the journey of building a gaming brand from scratch and discusses the rapid growth of the gaming sector during challenging times. Anurag Batra, Chairman and Editor-in-Chief of BW Business World, explores consumer landscape trends, the potential of microtransactions, and the importance of brand love in business. Sai highlights MPL's strategic partnerships and the impact of emotional branding, emphasizing the need for businesses to adapt to the digital economy and focus on customer engagement for long-term success.

Takeaways

• 🎮 The gaming sector is experiencing significant growth, with the potential for continued expansion in the consumer landscape over the next 6-12 months.
• 📈 The Indian gaming market is growing rapidly, with an estimated 450 million to 560 million gamers, and is expected to double in size over the next five to six years.
• 🏆 Mobile Premier League (MPL) has successfully built a strong brand identity, leveraging the popularity of gaming and esports to create brand love among enthusiasts.
• 🚀 The success of MPL's IPO, with an 84x subscription rate, reflects the growing consumer shift towards digital platforms and the potential of gaming companies.
• 💡 The importance of gamification in various sectors, such as personal investing, healthcare, and education, is highlighted as a key trend for business growth.
• 🌐 India's digital infrastructure, including affordable internet connectivity and payment mechanisms, has been crucial in accelerating the adoption of digital services during the pandemic.
• 📱 The potential for growth in the digital market is massive, with the total addressable market for digital products expected to expand significantly, driven by an increase in paying customers.
• 🤝 Brand partnerships within gaming, such as incorporating brand avatars in popular games or sponsoring large-scale tournaments, are effective ways to create brand love and engagement.
• 🏅 MPL's strategic decision to focus on emotional messaging and brand ambassadors, like Virat Kohli, has been instrumental in building a strong brand affinity and visibility.
• 💼 The mindset shift towards microtransactions is essential for businesses in India to capitalize on the large consumer base and the prevalence of small-value transactions.
• 🕶️ For entrepreneurs and business leaders, staying open to new ideas and maintaining the flexibility to explore and innovate is crucial for success in the evolving digital economy.

Q & A

What is the significance of the keynote address at the summit?

The keynote address at the summit is significant as it discusses the growth and future of the gaming brand MBL, which was launched in 2018 and has since become popular among gaming enthusiasts.

How has the gaming sector been affected during the tough times mentioned in the script?

The gaming sector has seen growth during these tough times, as more people are turning to digital entertainment. The script suggests that gaming companies are experiencing growth as consumers shift to digital platforms.

What was the outcome of the IPO mentioned in the script?

The IPO mentioned in the script was highly successful, with it being oversubscribed by 84 times, indicating a strong investor interest in the company going public.

What consumer trends are expected in the digital landscape over the next 6-12 months according to the script?

The script suggests that consumer trends will continue to shift towards digital platforms, with gaming and other digital products expected to see massive expansion in their total addressable market and paying customer base.

What is the current size of the gaming market in India, and what is its growth rate?

According to the script, the gaming market in India is already very large and growing at a rate of 40 percent or more, with an estimated 450 million to 560 million gamers.

How can gaming be used as a marketing tool to create brand love?

Gaming can be used as a marketing tool by integrating brand partnerships within games, such as brand avatars, or by sponsoring large-scale tournaments that engage a large number of players, thus creating a connection with the brand.

What is the impact of the pandemic on digital infrastructure and consumer behavior in India?

The pandemic has accelerated the adoption of digital services in India due to lockdowns and societal constraints, leading to a rapid increase in digital infrastructure and consumer shift towards digital consumption.

What is the potential for growth in the number of paying internet customers in India?

The script suggests that there is a significant potential for growth in the number of paying internet customers in India, which is currently around 50 million and could easily grow to about 100 million.

What is the role of microtransactions in the business models of digital companies in India?

Microtransactions play a crucial role in the business models of digital companies in India, as the country is characterized by a large number of small transactions from many consumers rather than fewer large transactions.

How did MBL's campaign with Virat Kohli as the brand ambassador contribute to brand love?

MBL's campaign with Virat Kohli focused on emotional messaging and the spirit of winning and competing, which created significant brand love and visibility, even though it did not immediately impact transaction volumes.

What mindset change is necessary for businesses to succeed in the new digital economy?

A necessary mindset change for businesses in the new digital economy is to design their business models around microtransactions and to focus on acquiring a large number of customers willing to pay small amounts for services.